The Latin America, Middle East and Africa Solar Encapsulation Market would witness market growth of 11.5% CAGR during the forecast period (2022-2028).
Due to the increasing demand for electricity worldwide, the market for solar encapsulation is anticipated to grow strongly over the forecast period. The market will also benefit from the expected swift development of the sustainable and unconventional energy sector, which is expected a result of the depletion of traditional energy sources, environmental concerns, and rising production costs. With no other substitute, rising infrastructure modernization investments are the other major factor rising the need for encapsulation making solar encapsulation the foundation of PV technology production.
A solar cell must be enclosed as a solar module to improve its output power because a single solar cell's output power is insufficient to meet typical electricity needs. A crucial stage in the creation of solar cells is encapsulation. Even the create good solar modules without a good encapsulation technique. The solar cell's encapsulation not only extends its lifespan but also strengthens its ability to launch attacks. The key to achieving customer satisfaction is great product quality and durability, hence solar module encapsulation quality is crucial.
The United Arab Emirates was the third-largest producer of concentrated solar power in the world in 2013, according to data cited by the UAE government. The UAE produced over 140 MW of solar energy in 2014. The government estimated that achieving its renewable energy goal would result in savings of between USD 1 billion and USD 3.7 billion; however, given the shifting outlook for the costs of fossil fuels and renewable energy, the government now feels that the savings might be significantly higher.
The Brazil market dominated the LAMEA Solar Encapsulation Market by Country in 2021; thereby, achieving a market value of $93.1 million by 2028. The Argentina market is experiencing a CAGR of 12.1% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 11.2% during (2022 - 2028).
Based on Material, the market is segmented into Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and Others. Based on Technology, the market is segmented into Polycrystalline Silicon Solar, Cadmium Telluride, Copper Indium Gallium Selenide, and Amorphous Silicon. Based on Application, the market is segmented into Construction, Electronics, Automotive, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Solar Encapsulation Market is Predict to reach $4.4 Billion by 2028, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Dupont De Nemours, Inc., First Solar, Inc., Dai Nippon Printing Co., Ltd. (dnpSolar), Dow, Inc., Hangzhou First PV Material Co. Ltd., Kuraray Co., Ltd.
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